To say Cyber Monday "was a success" would be like saying Michelangelo did a "good Job" painting the Sistine Chapel. Neither description does their respective events justice. According to comScore's number crunching, this year's Cyber Monday posted $1.028 billion in online spending, a 16 percent increase over one year ago and the biggest online spending day in the history of mankind.
"Cyber Monday was a historic day for e-commerce as we saw daily spending surpass $1 billion for the first time," said comScore chairman Gian Fulgoni. "The online holiday shopping season has clearly gotten off to a very strong start, which is welcome news. At the same time, it’s important to note that some of the early strength in consumer spending is almost certainly the result of retailers’ heavier-than-normal promotional and discounting activity at this early point in the season. So, while we anticipate that there will be more billion-dollar spending days ahead as we get deeper into the season, only time will tell if overall consumer online spending remains at the elevated levels we’ve seen thus far."
While Cyber Monday set a new record, sales are up across the board so far this holiday shopping season. Consumers spent $13.56 billion from November 1-29, a 13 percent increase over last year, and $407 million on Thanksgiving Day, a whopping 28 percent jump from a year ago. Black Friday sales were up too, and so were the following weekend sales figures.